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Macroeconomic Policy, Product Market Competition, and Growth: The Intangible Investment Channel

Macroeconomic Policy, Product Market Competition, and Growth: The Intangible Investment Channel »

Volume/Issue: 2020/25

Series: IMF Working Papers

Author(s): JaeBin Ahn , Romain Duval , and Can Sever

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 February 2020

DOI: http://dx.doi.org/10.5089/9781513528571.001

ISBN: 9781513528571

Keywords: Financial crises, Supply and demand, Economic theory, Economic growth, Economic policy, Financial frictions, Intangible investment, Competition, Product Market, Monetary policy

While there is growing evidence of persistent or even permanent output losses from financial crises, the causes remain unclear. One candidate is intangible capital - a rising driver of economic growth that, being n...

Macroeconomic Policy, Product Market Competition, and Growth: The Intangible Investment Channel*

Macroeconomic Policy, Product Market Competition, and Growth: The Intangible Investment Channel* »

Source: Macroeconomic Policy, Product Market Competition, and Growth: The Intangible Investment Channel

Volume/Issue: 2020/25

Series: IMF Working Papers

Author(s): JaeBin Ahn , Romain Duval , and Can Sever

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 February 2020

ISBN: 9781513528571

Keywords: Financial crises, Supply and demand, Economic theory, Economic growth, Economic policy, Financial frictions, Intangible investment, Competition, Product Market, Monetary policy

While there is growing evidence of persistent or even permanent output losses from financial crises, the causes remain unclear. One candidate is intangible capital - a rising driver of economic growth that, being n...

Monetary Policy Is Not Always Systematic and Data-Driven: Evidence from the Yield Curve

Monetary Policy Is Not Always Systematic and Data-Driven: Evidence from the Yield Curve »

Volume/Issue: 2020/4

Series: IMF Working Papers

Author(s): Ales Bulir , and Jan Vlcek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 January 2020

DOI: http://dx.doi.org/10.5089/9781513522012.001

ISBN: 9781513522012

Keywords: Bank rates, Central banks, Monetary policy, Central banking and monetary issues, Central bank policy, Monetary transmission, yield curve, rule-based monetary policy, WP, output gap

Does monetary policy react systematically to macroeconomic innovations? In a sample of 16 countries - operating under various monetary regimes - we find that monetary policy decisions, as expressed in yield curve m...

Monetary Policy Is Not Always Systematic and Data-Driven: Evidence from the Yield Curve1

Monetary Policy Is Not Always Systematic and Data-Driven: Evidence from the Yield Curve1 »

Source: Monetary Policy Is Not Always Systematic and Data-Driven: Evidence from the Yield Curve

Volume/Issue: 2020/4

Series: IMF Working Papers

Author(s): Ales Bulir , and Jan Vlcek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 January 2020

ISBN: 9781513522012

Keywords: Bank rates, Central banks, Monetary policy, Central banking and monetary issues, Central bank policy, Monetary transmission, yield curve, rule-based monetary policy, WP, output gap

Does monetary policy react systematically to macroeconomic innovations? In a sample of 16 countries - operating under various monetary regimes - we find that monetary policy decisions, as expressed in yield curve m...

Cross-Border Currency Exposures*

Cross-Border Currency Exposures* »

Source: Cross-Border Currency Exposures

Volume/Issue: 2019/299

Series: IMF Working Papers

Author(s): Agustin Benetrix , Deepali Gautam , Luciana Juvenal , and Martin Schmitz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2019

ISBN: 9781513522869

Keywords: Foreign currency exposure, External sector, Exchange rate policy, Financial crises, Economic integration, WP, domestic currency, post-crisis, investment position, emerge economy

This paper provides a dataset on the currency composition of the international investment position for a group of 50 countries for the period 1990-2017. It improves available data based on estimates by incorporatin...

Global Value Chains and External Adjustment: Do Exchange Rates Still Matter?*

Global Value Chains and External Adjustment: Do Exchange Rates Still Matter?* »

Source: Global Value Chains and External Adjustment: Do Exchange Rates Still Matter?

Volume/Issue: 2019/300

Series: IMF Working Papers

Author(s): Gustavo Adler , Sergii Meleshchuk , and Carolina Osorio Buitron

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2019

ISBN: 9781513521985

Keywords: Exchange rate shocks, Exchange rate policy, Exchange rate pass-through, Flexible exchange rates, Exchange rate adjustments, inflation targeting, foreign exchange intervention, exchange rate, WP, intermediate input

The paper explores how international integration through global value chains shapes the working of exchange rates to induce external adjustment both in the short and medium run. The analysis indicates that greater...

Cross-Border Currency Exposures

Cross-Border Currency Exposures »

Volume/Issue: 2019/299

Series: IMF Working Papers

Author(s): Agustin Benetrix , Deepali Gautam , Luciana Juvenal , and Martin Schmitz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2019

DOI: http://dx.doi.org/10.5089/9781513522869.001

ISBN: 9781513522869

Keywords: Foreign currency exposure, External sector, Exchange rate policy, Financial crises, Economic integration, WP, domestic currency, post-crisis, investment position, emerge economy

This paper provides a dataset on the currency composition of the international investment position for a group of 50 countries for the period 1990-2017. It improves available data based on estimates by incorporatin...

Global Value Chains and External Adjustment: Do Exchange Rates Still Matter?

Global Value Chains and External Adjustment: Do Exchange Rates Still Matter? »

Volume/Issue: 2019/300

Series: IMF Working Papers

Author(s): Gustavo Adler , Sergii Meleshchuk , and Carolina Osorio Buitron

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2019

DOI: http://dx.doi.org/10.5089/9781513521985.001

ISBN: 9781513521985

Keywords: Exchange rate shocks, Exchange rate policy, Exchange rate pass-through, Flexible exchange rates, Exchange rate adjustments, inflation targeting, foreign exchange intervention, exchange rate, WP, intermediate input

The paper explores how international integration through global value chains shapes the working of exchange rates to induce external adjustment both in the short and medium run. The analysis indicates that greater...

Financial Development, Exchange Rate Fluctuations and Debt Dollarization: A Firm-Level Evidence

Financial Development, Exchange Rate Fluctuations and Debt Dollarization: A Firm-Level Evidence »

Source: Financial Development, Exchange Rate Fluctuations and Debt Dollarization: A Firm-Level Evidence

Volume/Issue: 2019/168

Series: IMF Working Papers

Author(s): Minsuk Kim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 August 2019

ISBN: 9781513508979

Keywords: Exchange rate policy, Exchange rate shocks, Exchange markets, Financial crises, Exchange rate regimes, Dollarization, Financial Development, Original Sin, Exchange Rate Volatility, dollar debt

This paper examines how financial development influences the debt dollarization of nonfinancial firms in a sample of emerging market economies (EMEs). The macroeconomic channels are identified from an optimal portf...

Financial Development, Exchange Rate Fluctuations and Debt Dollarization: A Firm-Level Evidence

Financial Development, Exchange Rate Fluctuations and Debt Dollarization: A Firm-Level Evidence »

Volume/Issue: 2019/168

Series: IMF Working Papers

Author(s): Minsuk Kim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 August 2019

DOI: http://dx.doi.org/10.5089/9781513508979.001

ISBN: 9781513508979

Keywords: Exchange rate policy, Exchange rate shocks, Exchange markets, Financial crises, Exchange rate regimes, Dollarization, Financial Development, Original Sin, Exchange Rate Volatility, dollar debt

This paper examines how financial development influences the debt dollarization of nonfinancial firms in a sample of emerging market economies (EMEs). The macroeconomic channels are identified from an optimal portf...